HTG Molecular Diagnostics (HTGM) Cut to Hold at Zacks Investment Research

HTG Molecular Diagnostics (NASDAQ:HTGM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

According to Zacks, “HTG Molecular Diagnostics, Inc. is engaged in developing and marketing a technology platform which consists of instrumentation, consumables and software analytics for sample profiling applications including tumor profiling, molecular diagnostic testing and biomarker development. Its products include HTG Edge System, HTG Edge Assays and HTG Assay Direct. HTG Molecular Diagnostics, Inc. is headquartered in Tucson, Arizona. “

A number of other equities analysts have also issued reports on HTGM. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of HTG Molecular Diagnostics in a research report on Tuesday, September 12th. ValuEngine lowered shares of HTG Molecular Diagnostics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 10th. Finally, Canaccord Genuity boosted their target price on shares of HTG Molecular Diagnostics to $5.00 in a research report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $4.88.

Shares of HTG Molecular Diagnostics (HTGM) traded down $0.56 during mid-day trading on Friday, reaching $3.47. 6,630,000 shares of the company were exchanged, compared to its average volume of 781,431. HTG Molecular Diagnostics has a fifty-two week low of $1.20 and a fifty-two week high of $13.25. The company has a market capitalization of $39.73 and a price-to-earnings ratio of -1.36.

A hedge fund recently raised its stake in HTG Molecular Diagnostics stock. Vanguard Group Inc. raised its holdings in HTG Molecular Diagnostics Inc (NASDAQ:HTGM) by 38.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,234 shares of the medical research company’s stock after buying an additional 37,841 shares during the quarter. Vanguard Group Inc. owned 1.42% of HTG Molecular Diagnostics worth $359,000 as of its most recent SEC filing. 15.15% of the stock is currently owned by institutional investors.

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About HTG Molecular Diagnostics

HTG Molecular Diagnostics, Inc is a commercial-stage company that develops and markets a technology platform to facilitate the routine use of complex molecular profiling. The Company’s HTG Edge and HTG EdgeSeq platforms, consisting of instrumentation, consumables and software analytics, are used in sample profiling applications, including tumor profiling, molecular diagnostic testing and biomarker development.

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